Ofcom ready to drop some of its powers over media

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Ofcom has pledged to give up some of its powers over the media industry, amounting to deregulation “in a host of areas”.

Last month the Government published plans to trim the regulator’s remit, with further cutbacks to come in 2012.

But Ed Richards, the regulator’s chief executive, is understood to have accepted proposals to reduce the watchdog’s powers and has already made representations in Whitehall for it to have a smaller role.

Among the powers he is understood to want scrapped is the requirement for television channels such as ITV, which hold public service licences, to submit annual statements of